MEXICO CITY, Aug 15 (Reuters) - In a majority decision on Thursday, the board of Mexico’s central bank voted to cut its key interest rate by 25 basis points to 8.00%, citing slowing inflation and widening slack in the economy, among other factors.
Eleven of 16 analysts and economists surveyed by Reuters had expected the Bank of Mexico (Banxico) to hold the key lending rate at 8.25%, the level it has maintained since Dec. 20. Five of those surveyed expected a rate cut of 25 basis points.
The last time Banxico cut rates was in June 2014. (Reporting by Mexico City Newsroom)